Are you ready to rrrrumble? Today’s episode commences the first annual SteadyTrade Paper Trading Competition (try saying that five times fast).
This paper trading competition was dreamed up by the SteadyTrade crew as a way to help traders advance — and, you know, to have some fun pitting hosts Tim Bohen and Stephen Johnson against each other.
Recently, Stephen and SteadyTrade producer Glenn interviewed over 80 traders who wanted to take part in this competition from all around the world and from different backgrounds.
In today’s episode, you’ll meet the contestants they chose!
The Steady Trade Paper Trading Competition
For now, here’s what you need to know:
- There will be two teams of three traders
- Tim and Stephen will act as mentors to each of the respective teams
- They will guide and hopefully help bring their team to victory!
Did you know that you can paper trade with real-time stocks using StocksToTrade? Get your 7-day trial here: https://stockstotrade.com/7daytrial
Meet the contestants!
In the episode, you’ll meet both Stephen and Tim’s teams of traders for the challenge.
Who she is: A Brooklyn-based graduate student, YouTube sensation, and cat owner who is studying social work.
Her trading story: While working as a nanny, Liz was making enough income to give trading a try. She lost money and quickly realized she’d need to educate herself before she could profit.
She joined the Tim Sykes Trading Challenge and has been paper trading for a year, but has only dipped a toe into active trading.
Goals: She’s ready to become a successful trader. She wants financial freedom and wants to be able to share what she learns with others.
Who he is: Born in Puerto Rico but of Dominican descent, he was raised in New York City and now works in a luxury fashion house on Rodeo Drive in Beverly Hills.
His trading story: After two years of studying, he began trading with $5,000 this spring. Losses mounted, and his account dipped below $1,300. However, this prompted him to really hit the books, and now he’s beginning to recover.
Goals: In his application, Louis referred to himself as having “uncanny instincts and unparalleled charisma.” He thinks he can bring these traits to his trading.
He wants to follow his mom’s wise advice to “surround yourself with people who are better than you and smarter than you” and learn from Tim and Stephen!
Who she is: Jude is a massage therapist from Vancouver. You may remember her from Episode 31 when she made Tim cry with an original song she sang.
Her trading story: Jude didn’t want to make money fast: she’s genuinely intrigued by the process of trading. While her story was detailed in Episode 32, Jude has progressed in trading but is still trying to find her specific niche.
Goals: To find what works for her as a trader. She wants to keep learning so that she can realize her potential, and she’d like to help others do the same.
Who she is: Cara is from Texas and works as an IT consultant, traveling and helping doctors and nurses transition into new medical record systems.
Her trading story: Cara is one of the greenest traders in the competition, but Tim thinks that could be a good thing, as it means she doesn’t have as many preconceived notions or bad habits.
Cara is still trying to work on her emotions while trading. She’s pretty new and hasn’t traded much, but she’s been studying a LOT as part of the Tim Sykes Trading Challenge.
Why she wants to do it: She loves Karmagawa, which is Tim Sykes’s charity. She wants to be able to give back in similar ways, and she sees trading as the gateway to making that financially possible.
Who he is: Chris really attracted SteadyTrade’s attention with an incredible video featuring samples of Tim and Stephen (you’ve got to watch this one on YouTube!). Chris is a DJ and video editor, loves music, and loves trading.
His trading story: Chris got his start in 2008 after the big market crash when he saw everything was down and figured it was a good time to buy low.
That worked, but not forever. Since then, he’s been trying to find a niche. Tim Sykes’ DVDs inspired him to try lower priced stocks but he’s still not sure if he’s found his perfect place.
Goals: He wants to pay off his house and make more income. To do that, he’s got to lock down how to be profitable and that’s why he feels he needs the paper trading challenge.
Who he is: Joshua is the cleaning guy for Lady Gaga’s tour bus. Kidding! He’s from Florida and he’s a 25-year-old firefighter.
His trading story: He started trading about 2 years ago, motivated by the idea of making more money. While trying to find his way, he discovered low priced stocks.
He opened up an account about a year ago but suffered a pretty big $1,000 loss which caused him to hit the pause button and go back to basics.
Goals: After his big loss, he wants to improve his psychology and his technical know how. He doesn’t want to suffer the same fate again, and wants to find the right niche.
Curious about something?
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